With a slight surge on September 5, the London Metal Exchange (LME) aluminium price also saw a dip as the market opened on September 8. A significant difference could be seen in live warrants and the cancelled warrants.
On September 8, the LME aluminium cash bid and offer price saw a decline by USD 2.5 per tonne or 0.09 per cent, where the cash bid price went down from USD 2,615.5 per tonne to USD 2,613 per tonne and the cash offer went down from USD 2,616 per tonne to USD 2,613.5 per tonne.
The 3-month bid price witnessed a downward movement by USD 2 per tonne or 0.07 per cent, where the price fell from USD 2,612 per tonne to USD 2,610 per tonne. A similar trend has been seen in the offer price, where it dropped from USD 2,613 per tonne to USD 2,612 per tonne, reflecting a decrease of USD 1 per tonne or 0.03 per cent.
Both the December 26 bid and offer price saw a decline of USD 6 per tonne or 0.22 per cent, where the bid price fell to USD 2,657 per tonne from USD 2,663 per tonne. Simultaneously, the offer price collapsed to USD 2,662 per tonne from USD 2,668 per tonne.
The 3-month Asian Reference Price also saw a similar downward shift when the price inched down from USD 2.600.50 per tonne to USD 2,617.50 per tonne, indicating a difference of USD 17 per tonne or 0.65 per cent.
The LME opening stock went up to 485,275 tonnes from 484,675 tonnes, showing an increase of 600 tonnes or 0.12 per cent. Live warrant inched up to 442,425 tonnes from 473,825 tonnes, owing to a discrepancy of 31,400 tonnes or 6.62 per cent. Similarly, cancelled warrants crept to 42,850 tonnes from 10,850 tonnes, portraying a contrast of 32,000 tonnes or 294.93 per cent.
The alumina platts price inched down from USD 353.66 per tonne to USD 341.30 per tonne, mirroring a difference of USD 1.23 per tonne or 3.49 per cent.
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